Monthly Archives: June 2012
Meet Julia in her Photo Journal (click the links for Photos) of Commie Change…
Julia’s struggle with Socialism began in the land of Oz when she met the Wizard of Ozamba.
Julia was whisked away from the Wizard of Ozamba at the tender age of 24. Julia studied the Word of Porkulus Pelosi on the wings of Air Pelosi. Powered by the Czar of taxpayer subsidies, Julia became a White House Intern.
As an Intern, Julia took the Red Pill of Obammunism and Alice showed her how deep the rabbit-hole of Mandatory Socialized Medicine goes. After helping the Wizard of Ozamba dig a Big Red Hole, Julia was promoted to White House Aide.
In the end, Julia became the Chief of Staff to stimulate Barack ‘Urkel’ Obama’s flaccid economy Down under.
|Jan 20, 2009||Jun 3, 2012||Change|
|Unemployed||12 million||12.7 million (May)||+5.8%|
|Unemployment Rate||7.8%||8.2% (May)||+5%|
|Federal Debt||$10.6 trillion||$15.77 trillion||+48.8%|
|Debt per person||$34,694||$50,277||+45%|
|Misery Index||7.8||10.4 (Apr)||+33%|
|Americans in Poverty||43.6 million||49.1 million (2010)||+12.6%|
|Food Stamp Recepients||32 million||46.4 million (Mar)||+45%|
|Worker Health Insurance Costs||$4,192||$8,008 (2011)||+91%|
|College Tuition||$5,976||$6,941 est.||+16%|
|Home Values||$185,000||$169,600 (2011)||-8.3%|
|U.S. Global Competiveness||2nd||5th (2011)||-3 places|
The failure of Obamanomics
Obama’s economic advisers claimed Barack’s Stimulus Package would keep the unemployment rate below 8 percent…
Figure 1: Unemployment Rate With and Without the Recovery Plan
Yet, the unemployment rate increased to 10% under Obama’s Recovery Plan before any employment Change occurred.
The American Recovery and Reinvestment Plan (ARRA aka Stimulus Package) was initially estimated to cost taxpayers $787 billion. The Congressional Budget Office (CBO) estimated that ARRA will increase budget deficits over the 2009–2019 period by $821 billion on Feb 23, 2011. The CBO currently estimates that ARRA will increase budget deficits over the 2009–2019 period by $831 billion.
The CBO claims that Obama’s $831 Billion Porkulus Package (ARRA) created between 10.3 million and 31.1 million jobs from the 3rd Quarter of 2009 to the 2nd Quarter of 2012 (Note 1) yet, the Bureau of Labor Statistics reveals 3.886 million new jobs were created from Oct 2009 to June 2012.
Apparently, there is no reliable government data that reveals how many jobs were saved and created by the ARRA yet, a 2011 Ohio State University Economics study revealed that Obama’s Stimulus killed 1 million private sector jobs and saved 450,000 government-sector jobs. To date, $757.5 billion has been spent to save government jobs according to the study.
Gas and Oil Prices are affected by Obama’s Energy and Foreign Policies. Gas prices have risen over 50 cents per gallon since January due to U.S. Sanctions on Iran’s central bank over Iran’s nuclear program.
Although Obama claims foreign oil imports are down and domestic oil and gas production is up(2), Barack blocked the 1,700-mile Keystone XL pipeline in January. The proposed pipeline would increase oil supplies by 500,000 to 700,000 barrels a day which barely offsets the loss of 3.5 million barrels a day from Iran.
Currently, Obama is only backing the Cushing-to-Gulf segment of Keystone XL pipeline project.
Americans and American businesses are paying the consequences of the instability in the Middle East at the pump due to Iranian President Mahmoud Ahmadinejad’s actions and President Obama’s reactions. Rising gas prices are also fueled by Obama’s energy policies. Instead of opening more federal land to gas and oil exploration, Obama pushed his Pond Scum Gas “to free ourselves from our dependence on foreign oil.” In addition, gas and oil prices are affected by American energy production which has been blocked and delayed by President Obama.
For your reading and laughing pleasure, you may also like these related posts…
- President Obama will save the Economy in 2012
- Solargate: Solyndra is the Face of Obamanomics
- Obama’s Fault
- Welcome Back, Carter… Obama Misery Index
- Forward to Obammunism
(1) CBO, May 25, 2012 ARRA Increased the number of people employed by between 0.3 million and 2.0 million – 2nd Quarter 2012
CBO, Feb 22, 2012 ARRA Increased the number of people employed by between 0.3 million and 2.0 million – 1st Quarter 2012
CBO, Feb 22, 2012 ARRA Increased the number of people employed by between 0.3 million and 2.0 million – 4th Quarter 2011
CBO, Nov 24, 2011 ARRA Increased the number of people employed by between 0.3 million and 2.0 million – 3rd Quarter 2011
CBO, Aug 24, 2011 ARRA Increased the number of people employed by between 1.0 million and 2.9 million – 2nd Quarter 2011
CBO, May 25, 2011 ARRA Increased the number of people employed by between 1.2 million and 3.3 million – 1st Quarter 2011
CBO, Feb 23, 2011 ARRA Increased the number of people employed by between 1.3 million and 3.5 million – 4th Quarter 2010
CBO, Nov 24, 2010 ARRA Increased the number of people employed by between 1.4 million and 3.6 million – 3rd Quarter 2010
CBO, Aug 24, 2010 ARRA Increased the number of people employed by between 1.4 million and 3.3 million – 2nd Quarter 2010
CBO, May 25, 2010 ARRA Increased the number of people employed by between 1.2 million and 2.8 million – 1st Quarter 2010
CBO, Feb 23, 2010 ARRA Increased the number of people employed by between 1.0 million and 2.1 million – 4th Quarter 2009
CBO, Nov 30, 2009 ARRA Increased the number of people employed by between 0.6 million and 1.6 million – 3rd Quarter 2009
(2) Obama claimed Oil is the “Fuel of the Past” and challenged U.s. to decrease our dependence on oil.
Drilling for the Truth…
Obama’s claims are misleading since Oil production has increased in spite of, not because of, Obama. For example, oil production has increased by over 250 percent in North Dakota while “federal oil and natural gas production has fallen over 40 percent.”
The Oil rig count is also misleading since the increase in oil production has taken place on state and private (not federal) lands due to the policies of Dubya Bush. The decline of Offshore oil rigs is most likely due to Obama’s moratorium on all new drilling in the Gulf of Mexico.
Many of Obama’s Green Energy Policy initiatives were funded by the American Recovery and Reinvestment Act of 2009 (ARRA). The Recovery Act included $8.5 billion to subsidize loans for renewable energy projects like Solyndra which cost taxpayers $385 million after the company went bankrupt on Sep 6, 2011.
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